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Even some of the oldest, most respected firms, like John Griffin's Blue Ridge Capital, posted significant losses.
As more hedge fund firms report first-quarter results, it has become apparent that many of the firms with roots in Julian Robertson Jr.'s Tiger Management have had a tough time.
Most of the roughly two dozen firms known as Tiger Cubs because their founders once worked for Tiger, Tiger Seeds because they were seeded by Tiger, or Tiger Grandcubs because they once worked for a Tiger Cub, lost money for the three-month period.
The losses were concentrated in the first two months. Many of the firms made money in March. If they hadn't, the first quarter would have looked even worse.
A good example is John Griffin's Blue Ridge Capital. The New York-based fund was down about 9 percent for the period. However, this was after posting a profit of more than 2 percent in March.
The decline followed Blue Ridge's 3.4 percent gain in 2015, which...